Press release
Exploring the Global Market Dynamics of Precision Ball Screw Market at a CAGR of 5.5% by 2032
Precision Ball Screw Market
According to a new report published by Allied Market Research, titled, The Precision Ball Screw Market Size was valued at $1.7 billion in 2020, and is estimated to reach $3.2 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
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Market Outlook:
The report provides an extensive the market analysis of the current and emerging precision ball screw market trends and dynamics.
Depending on type, the ground segment dominated market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
Depending on sales channel, the offline segment dominated market, in terms of revenue in 2020; however, the online segment is projected to grow at a higher CAGR during the forecast period.
By application, the semiconductor segment registered highest revenue in 2019.
Asia-Pacific region is projected to register the highest growth rate in the coming years.
Asia-Pacific serves as the most productive region compared to others with diverse industry verticals significantly investing for business expansion and growth in semiconductor and aerospace sectors is anticipated to boost demand for precision ball screws. Asia-Pacific dominated the market in 2020, in terms of revenue, accounting for nearly half of the global precision ball screw market share, followed by Europe.
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Driving Factors:
The economy of Asia has increased over past couple of years, owing to rapid industrialization, which boosts the growth of the aerospace, semiconductor, and healthcare industries. This, in turn, is expected to fuel the precision ball screw market growth during the forecast period. In addition, Asia-Pacific presents high growth opportunities for the market owing to its cheap labor and relatively easy labor laws.
Commonly observed types of precision ball screws are ground and rolled. Out of these two segments, the ground segment accounted for the largest share in the global precision ball screw market in 2020, and is expected to witness significant growth during the forecast period, owing to technical innovations and deployment in semiconductor and medical devices industries.
The rolled segment also held a considerable share in 2020. Rolled precision ball screws are generally used for general industrial and automation applications, owing to its features such as high load bearing capacity, high power transmission rate, and economical cost. In addition, rise in adoption of high precision robots is expected to drive demand for rolled precision ball screws during the forecast period.
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Key Segments:
By Type -
Ground
Rolled
By Sales Channel
Offline
Online
By Application
Ѕеmісоnduсtоr Маnufасturіng Еquірmеnt
Меdісаl Еquірmеnt
Lаbоrаtоrу Еquірmеnt
Others
Top Players:
SKF, The PMI Group, Inc., Schaeffler AG, kuroda precision industries ltd., NIDEC CORPORATION, Koyo Machinery, Barnes Industries Inc., HIWIN Corporation, THK Co. Ltd., Bosch Rexroth AG
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Plastic Injection Molding Machine Market - https://www.alliedmarketresearch.com/plastic-injection-molding-machines-market-A13698
Structural Wood Screws Market - https://www.alliedmarketresearch.com/structural-wood-screws-market-A53724
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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